You have probably heard this before – speed is a crucial parameter for your website’s performance. Given the rapid technological advancements, there is no good excuse to have a website that still struggles with loading time. The real question that needs to be addressed in today is not whether your website is fast but whether you can take steps to make it any faster. With growing ease of accessibility propelled by handheld mobile devices, internet users are seeking instant connections and becoming more intolerant of website with poor loading time. If speed hasn’t been on your priority list until now, now is a good time to make a start. Here’s why a speedier website is good for your business and how you can improve your site’s loading time.

Why Speed Matters?

Search Engine Ranking: In a recent announcement, Google has declared that a site’s loading time will impact search engine rankings. While loading time may not be as impactful as use of keywords in determining search engine rankings, it will definitely play a role in future SEO.

Higher Bounce Rates: Slow loading time automatically translates into higher bounce rates. Research indicates that nearly 11% visitors are likely to abandon a site that takes longer than a second to load. Similarly, sites with 3 second of page load time see a 50% higher bounce rate compared to those with one second load time. The gap widens further with a 25% increase in bounce rate for sites with 4 second loading time as compared to those with 3 second page load time. The statistics clearly point in one direction – the average internet user is low on time and patience.

Lower Conversion Rates: The longer your site takes to load, the more frustrated your visitors will be. An irate visitor is a lot less likely to do business with your site. This directly translates into lower conversion rates, which means fewer sales. According to Kissmetrics, even a second’s delay in loading time can cause upto 7% reduction in conversions. To put things in perspective, that means a loss of whopping $2.5 million in revenue annually for a site with daily earning worth $100,000.

All of the above factors can result in loss of potential sales and seriously compromise your business’ financial robustness.

How to Improve Page Loading Time?

Before understanding how to improve page loading time, it is important to understand what qualifies as good loading time. So far, a loading time of 1-3 seconds is considered pretty healthy. If you view things futuristically, you should aim for a loading time of less than one second to keep your site viable in the long run. The process to achieving this end begins during the website development phase and depends on the following factors: